In case of death of insured, sum assured will be paid in lump sum as death benefit. There are two cover options available under the plan. In the first option, sum assured paid is equal to five times the single premium. In the second option, the sum assured is equal to ten times the single premium.

Maturity benefit

A guaranteed sum assured will be paid in lump sum as maturity benefit once the policy attains the date of maturity.

Surrender value

If the surrender request is made within the first year of the policy, the application will be accepted but the surrender value will be paid only at the end of the policy year.

Free look period

15 days (30 days for distance marketing)

Grace period

Grace period is not applicable for this policy

Policy cover

Death benefit and maturity benefit

Revivals/ Reinstatement

Not applicable for this policy

Nomination

The insured can make a nomination any time before the maturity of the policy or the termination of the policy.

Tax benefits

The policy qualifies for tax benefits under section 80c of the Income Tax Act, 1961